Amid Super App Push, Jio Financial Services To Raise INR 15,825 Cr

JFS will be looking to raise $1.8 Bn via a private placement of convertible warrants to members of its promoter group, Sikka Ports & Terminals and Jamnagar Utilities & Power Pvt Ltd

In an exchange filing, the company said that its board approved the issuance of up to 50 Cr warrants for INR 316.5 each

While JFS didn’t disclose the reason behind the fundraise, the funding comes at a time when it is putting its fintech super app plans in motion

Fintech major Jio Financial…